Buyer behavior refers to the actions that buyers take when purchasing a product. It is vitally important to businesses because it helps them understand how to tweak their product lines. Similarly, it is also useful to study for marketing efforts because it helps marketers understand why people are buying a specific product instead of another one.
Types of buyer behavior
There are four types of buyer behavior:
- Complex buying behavior refers to purchases in which the customer is highly involved and carries risks.
- Variety seeking buying behavior refers to behavior in which someone buys lots of new brands just for the sheer purpose of trying to find something new.
- Dissonance reducing buying behavior is when someone is involved in a very risky purpose but doesn’t see a big difference in other brands.
- Habitual buying behavior refers to minimal involvement in the purchase process.
The buyer behavior model
The buyer behavior model posits that there is a step-by-step process that buyers go by when making a purchase. For example, they will start by recognizing a need, then start looking for information, followed by evaluating alternatives, making a purchase decision, and then evaluating the purchase later.
By understanding this process, businesses can implement different strategies to target buyers at every step. For example, businesses can reach buyers at the beginning stages by creating content initiatives that provide general information about how to solve a specific problem. Then, for buyers in the decision stage, they can create more specific content that compares their product head-to-head with a competitor.
Each of these strategies is used to meet the needs of the buyer throughout their journey, first alerting them to general solutions to their problems, and then becoming more specific to lead them to a decision. These strategies rely on a keen understanding of buyer behavior.
The leading scheduling software designed for hourly employees. Build your work schedule in minutes with ZoomShift.